Options, the value of capital, and investment
Continuing rapid growth in U.S. gasoline consumption threatens to exacerbate environmental and congestion problems. We use flexible semiparametric and nonparametric methods to guide analysis of household gasoline consumption, and including this variable cuts the estimated income elasticity in half....
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| Format: | Working Paper |
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MIT Center for Energy and Environmental Policy Research
2009
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| Online Access: | http://hdl.handle.net/1721.1/50184 |
| _version_ | 1826216647387512832 |
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| author | Abel, Andrew B. |
| author2 | Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research. |
| author_facet | Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research. Abel, Andrew B. |
| author_sort | Abel, Andrew B. |
| collection | MIT |
| description | Continuing rapid growth in U.S. gasoline consumption threatens to exacerbate environmental and congestion problems. We use flexible semiparametric and nonparametric methods to guide analysis of household gasoline consumption, and including this variable cuts the estimated income elasticity in half. Slower projected future growth in licensed drivers points to slower growth in gasoline consumption. A parsimonious representation of age, income, lifecycle and location effects is developed and tested. We show how flexible methods also helped reveal fundamental problems with the available price data. |
| first_indexed | 2024-09-23T16:51:09Z |
| format | Working Paper |
| id | mit-1721.1/50184 |
| institution | Massachusetts Institute of Technology |
| last_indexed | 2024-09-23T16:51:09Z |
| publishDate | 2009 |
| publisher | MIT Center for Energy and Environmental Policy Research |
| record_format | dspace |
| spelling | mit-1721.1/501842019-04-12T23:31:06Z Options, the value of capital, and investment Abel, Andrew B. Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research. Continuing rapid growth in U.S. gasoline consumption threatens to exacerbate environmental and congestion problems. We use flexible semiparametric and nonparametric methods to guide analysis of household gasoline consumption, and including this variable cuts the estimated income elasticity in half. Slower projected future growth in licensed drivers points to slower growth in gasoline consumption. A parsimonious representation of age, income, lifecycle and location effects is developed and tested. We show how flexible methods also helped reveal fundamental problems with the available price data. Supported by the National Science Foundation and the Sloan Foundation. 2009-12-15T23:58:02Z 2009-12-15T23:58:02Z 1995 Working Paper 95006 http://hdl.handle.net/1721.1/50184 35719430 MIT-CEEPR (Series) ; 95-006WP. 22 p., [2] p. of plates application/pdf MIT Center for Energy and Environmental Policy Research |
| spellingShingle | Abel, Andrew B. Options, the value of capital, and investment |
| title | Options, the value of capital, and investment |
| title_full | Options, the value of capital, and investment |
| title_fullStr | Options, the value of capital, and investment |
| title_full_unstemmed | Options, the value of capital, and investment |
| title_short | Options, the value of capital, and investment |
| title_sort | options the value of capital and investment |
| url | http://hdl.handle.net/1721.1/50184 |
| work_keys_str_mv | AT abelandrewb optionsthevalueofcapitalandinvestment |